Startup Valuations Face a Reckoning as Markdowns and Sell Calls Multiply

Prosus invested $100 million in Navi at a $1.3 billion valuation — a sharp 35% markdown from the $2 billion the fintech had been targeting. Flipkart co-founder Sachin Bansal had poured $400–450 million of his own exit proceeds into Navi over eight years of bootstrapping, but the first major institutional cheque arrived only after the company agreed to a significant valuation reset. The deal signals that even celebrity founders with deep pockets aren't immune to the new pricing...